FundedNext offers swap-free accounts across every challenge, allowing traders to hold positions overnight without any swap or rollover fees. These accounts have the same spreads, leverage, and rules as regular accounts, and no additional paperwork is required to activate them. The swap-free option is ideal for clients looking to avoid extra costs or those whose personal or religious beliefs prevent them from paying or receiving interest.
Also, by eliminating the overnight holding charges, you can ensure trades that are within your Daily Loss Limit aren’t pushed into a breach by rollover fees. Here’s an example:
Scenario: Account breach due to swap (BTCUSD)
You have a $100,000 Stellar 2-Step Account; Daily Loss Limit = $5,000. You placed a BUY trade of 1 lot on BTCUSD at 102,000.00. By the end of day, the price is 97,030.00
Floating PnL before swap
Floating PnL = (97,030.00 − 102,000.00) × 0.10 × 1
= (−49,700 pips × $0.10 × 1 lot)
= −$4,970.00
Overnight holding charge
Swap = −$42.00
Total Daily Loss
= −$4,970.00 + (−$42.00)
= −$5,012.00
Outcome: The floating loss was just under the limit, but the swap pushed the day’s total to −$5,012, triggering an account breach.
However, with a swap-free account, your floating loss remains −$4,970.00, keeping you safely under the Daily Loss Limit and avoiding a breach.
Please note that the pricing for swap-free accounts is 10% higher than regular accounts, as FundedNext covers the cost of overnight holding charges usually borne by clients.